Internal controls are the rules and mechanisms established by an entity to ensure their compliance obligations are being met. In recent years, NERC and regional entities have placed an emphasis on reviewing an entity’s internal controls. Internal controls do not need to be so complicated that you need a full-time person managing them. PCS creates policies and procedures that contain internal controls as part of your everyday operations. Internal controls should be a natural part of your processes.
As noted by NERC, effective controls provide value and help registered entities with the following: